Product Specialty/Controller-Consumer Credit Accounting Team- CFO

Bank of America•Charlotte, NC

4d•Onsite

About The Position

This job is responsible for financial reporting for a line of business. Key responsibilities include understanding business processes, continuing to develop comprehensive knowledge of accounting activities and reviewing month-end close to accurately reflect business results. Job expectations include partnering with upstream and downstream stakeholders and possessing accounting and financial reporting knowledge. The Consumer Secured Lending Controller team is part of Global Legal Entity Controller (GLEC) group which is responsible for legal entity controllership activities for the Americas which includes the U.S., Canada, Mexico, Brazil and Nobramex. The Consumer Secured Lending Controller is responsible for the accurate accounting and reporting of modified and non-performing loans for mortgage/vehicle lending in compliance with Generally Accepted Accounting Principles (GAAP) and regulatory guidelines. The team also performs various accounting, analysis and reporting activities as part of the monthly accounting close as well as supports the Bank’s regulatory reporting submissions by ensuring the data provided is complete and accurate in conformance with Federal Reserve Bank (“FRB”) and Office of the Comptroller of the Currency (“OCC”) instructions. In addition, the team participates in a variety of data quality and data analysis routines to ensure the integrity of data residing in its financial accounting systems and two of the Bank’s Authorized Data Sources (BAC Mortgage Hub and BAC Vehicle Hub). The team is also involved in audits through interactions with regulators and auditors along with providing requested information and responding to questions. Understand technical or product specific accounting knowledge; Research and resolves/ processes accounting exceptions; prepares one or more of the following: data, GL balances, disclosures, SEC reporting.

Requirements

2 years’ experience in banking/mortgage industry with understanding of products
Knowledge of mortgage and/or vehicle lending loan servicing and Loan/Lease accounting
2 years’ experience interpreting, classifying and analyzing data
Strong analytical and problem solving skills
Strong Microsoft Excel, Word and Power Point skills
Ability to work in a self-directed environment and communicate effectively across all levels of the organization
Foster a positive and inclusive work environment
Bachelor’s degree in a related field

Nice To Haves

Exposure to MS T-SQL
Familiarity with BAC applications: CLEAR, Over$ight, BMH, BVH, MSP, IALS, SBO
Experience with regulatory reporting requirements such as SEC, FR Y-9C, etc.
Financial Accounting
Financial Analysis
Reporting
Stakeholder Management
Attention to Detail
Data Quality Management
Written Communications
Advisory

Responsibilities

Ensures the ledger is accurate for a line of business line
Adheres to accounting standards
Partners with upstream and downstream stakeholders
Comprehends business activities and how they influence accounting and reporting outputs
Accountable for Loan Modification data integrity, inclusive of 1) Ensure Over$ight Rules Engine meets accounting policy guidelines, 2) Perform weekly and monthly data quality reviews across residential mortgage and auto lending systems of record and pull loan documentation to confirm completeness and accuracy of the Loan Modification portfolio 3) Perform data corrections via system uploads
Participate in the monthly Loan Modification portfolio lock down by performing monthly data validation reviews and making data corrections
Collaborate with the Loan Servicing line of businesses to remediate data quality issues for daily oversight and support bank initiatives
Support system fixes/enhancements by performing data validations, end user testing (UAT) and post release testing
Perform analysis using Microsoft SQL, research issues and provide input for resolutions
Complete monthly and quarterly data reconciliations across Authorized Data Sources (ADS) and systems of record
Prepare and present slides in quarterly Loan Modification Governance Council meetings with executives/stakeholders from various lines of business
Support the preparation of SEC and regulatory reporting submissions
Support internal audits and regulatory exams by providing requested loan documentation and data from systems of record